If you are looking for a reliable and trustworthy broker to invest your money with, you might have come across Blockfitcapital.com. This website claims to offer a variety of trading services, such as forex, stocks, commodities, indices, and cryptocurrencies. But how can you tell if this broker is legit or a scam? In this review, we will examine some of the features and red flags of Blockfitcapital.com and help you make an informed decision.
First of all, let’s look at the regulation and licensing of this broker. According to their website, Blockfitcapital.com is owned and operated by Blockfit Capital Ltd, a company registered in St. Vincent and the Grenadines. However, this does not mean that the broker is regulated by any reputable authority. In fact, St. Vincent and the Grenadines is a notorious offshore jurisdiction that does not regulate forex or crypto brokers at all. This means that if you deposit your money with Blockfitcapital.com, you have no legal protection or recourse in case of any issues or disputes.
Secondly, let’s look at the trading conditions and platforms offered by this broker. Blockfitcapital.com claims to offer four types of accounts: Basic, Silver, Gold, and Platinum. The minimum deposit for the Basic account is $250, which is quite high compared to other brokers. The spreads are also very wide, ranging from 3 to 7 pips on major currency pairs. The leverage is up to 1:400, which is very risky and can lead to significant losses. The broker also charges a commission of $10 per lot traded, which adds to the cost of trading.
The broker claims to provide access to the MetaTrader 4 platform, which is a popular and user-friendly platform among traders. However, when we tried to download the platform from their website, we encountered an error message that said “The file you are trying to download is no longer available”. This raises doubts about the credibility and functionality of the broker’s platform.
Thirdly, let’s look at the customer support and feedback of this broker. Blockfitcapital.com provides a phone number and an email address as their contact details. However, when we tried to call the phone number, we got no answer. When we sent an email to the address, we got no reply either. This suggests that the broker has poor or non-existent customer service.
Moreover, when we searched online for reviews and testimonials from other traders who have used this broker, we found mostly negative and alarming feedback. Many traders complained that they were unable to withdraw their money from the broker, that they were pressured to deposit more funds, that they were scammed by fake account managers, and that they lost all their money due to manipulation and fraud.
Based on our research and analysis, we conclude that Blockfitcapital.com is not a legit broker, but a scam that should be avoided at all costs. We advise you to stay away from this broker and look for a more reputable and regulated one instead.
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